Daily Price Action: E-mini S&P 500

Al Brooks provides bar-by-bar analysis on a five-minute chart of the previous day’s prices action in the E-mini S&P 500. This is his analysis for Friday, March 9, 2018.

  • Bar 1 - Big gu so trend day likely, and up mre likely than down. Big bear bars, possible high of day, but low probability so swing or wait, but bear need 2 – 3 big bear bars if bear trend day. More likely, sideways to down to moving average, then bull flag
  • Bar 2 - One legged pullback in a bull move but tail, probably trading range open so mostly a limit order market
  • Bar 4 - Close on high, two legged pullback in a bull move, always in long, possible low of day, but low probability so swing or wait, but 4 bar tight trading range, probably limited rally and then trading range open so mostly a limit order market until close to moving average where bull will try for opening reversal up
  • Bar 5 - Fail, failure breakout high of yesterday second entry sell, but 2 bull bars, buy below or probably buyers at the low of the bar scaling in lower
  • Bar 6 - Fail, failure double top, but weak rally and possible wedge top above, then pullback to moving average and 2 low
  • Bar 8 - Breakout, small pullback bull trend
  • Bar 11 - Parabolic wedge 1 5, but small pullback bull trend, buy below or probably buyers at the low of the bar scaling in lower
  • Bar 12 - One legged pullback in a bull move, bull bars, small pullback bull trend, ok buy or long. Still buy the close. Pullback attempt at parabolic wedge top soon
  • Bar 17 - Consecutive parabolic wedge 7 and now 11 14, possible high of day, but low probability so swing or wait but small pullback bull trend, better to wait for a strong bear breakout, or more selling pressure and second entry sell, mr and tight trading range more likely than bear trend
  • Bar 19 - Breakout pullback sell or short, but always in long, apbl, tight trading range, buy below or probably buyers at the low of the bar scaling in lower. Possibly sellers above or probably sellers at the high of the bar scaling in higher, but easier to make money buying
  • Bar 20 - One legged pullback in a bull move, micro double bottom, always in long, but 5 bear tight trading range so need stop below 13